INSUBCONTINENT EXCLUSIVE:
Editor's note: Ankit Prasad is a CGTN biz commentator
The article reflects the author's views and not necessarily those of CGTN.July 1, 2025, marked 50 years of the establishment of diplomatic
ties between China and Thailand—50 years of a decision that has resoundingly disproved any skepticism or doubts that preceded it
Yet when one considers the long history of people-to-people contact, the substantial Chinese-origin population in Thailand, as well as the
two countries' proximity, 50 years doesn't seem long enough.China now meets four key criteria for being an important peacetime partner for
Thailand: (1) not only is Thailand home to the largest overseas Chinese community but studies show Chinese have also assimilated so well
that some 40 percent of Thailand's population has some form of Chinese ancestry; (2) China has been Thailand's largest trading partner for
over a decade; (3) in 2023 also became Thailand's largest source of foreign investment; and (4) in 2024, China also reclaimed top spot as
Thailand's leading source of inbound visitors.The cooperation has also shown itself to be reciprocal
History records that when China began its reform and opening-up in the late 1970s, Thailand's CP Group, under the name Chia Tai Co., Ltd.,
got the registration number "0001" and became the first foreign investor, in Shenzhen, Guangdong province
As per the Center for China and Globalization, there were over 3,129 Thai investment projects in China between 1978 and 2002. Even now, in
the summer season, Chinese fruit shops and supermarkets are filled with Thai Durian, flying off the shelves alongside Lychees
In many ways, the Durian trade reveals precisely how far the China-Thailand economic relationship has come since the Cold War-tinted days
when its closeness to the US meant Thailand didn't recognize China
Now, thanks to Thailand being an important participant of the Belt and Road Initiative, Thai Durian and other agricultural produce can reach
China via the China-Laos Railway and make it to Chinese stores within days
And this is just the start—with the high-profile China-Thailand high-speed railway set for completion in coming years, all manner of cargo
as well as people will be able to seamlessly be moved from one country to the other
Simultaneously, while the BRI decreases the geographical and logistical distance, the RCEP (Regional Comprehensive Economic Partnership)
and visa-free policies are bridging trade and tourism barriers
As per China Briefing, Thailand's trade with RCEP countries rose 7.11 percent in 2022 following its operationalization
Two years later, in the first ten months of 2024, the Thai government reported that RCEP trade accounted for 53.12 percent of Thailand's
total trade, up 2.69 percent from a year earlier.The numbers on the tourism front are even more encouraging, following the mutual visa
exemption that came into effect in March 2024
According to Thai newspaper The Nation, there was a staggering 493.8 percent year-on-year jump in Thai visitors to China in the first half
of 2024, while the number of Chinese tourists who visited Thailand in 2024 increased by 91.7 percent
The visit of the sitting Thai Prime Minister to China's Harbin for the opening ceremony of the 9th Asian Winter Games this February was a
Just three weeks before that, a China-Thailand Economic and Trade Cooperation Forum was jointly hosted in Bangkok by the China Council
for the Promotion of International Trade (CCPIT) and Thai Chinese Chamber of Commerce in Thailand
Citing the approaching 50th anniversary of diplomatic ties, representatives from the Thai political and business sectors noted that mutually
beneficial cooperation between Thailand and China is flourishing in areas such as economy, culture, and technology, Xinhua reported
The stats showed they had every reason to be optimistic - China-Thailand bilateral trade reached $133.98 billion in 2024, up 6.1 percent
year-on-year.The dramatic transformation in both nations since establishing ties owes a lot to their timely respective economic
In Thailand, a thrust on export-led industrialization and tourism, boosted by participation in trade networks and a focus on economic
stability since the Asian Financial Crisis, has led to positive effects
Unlike the earlier era, where the form that relations would take would be influenced and often dictated by political, ideological and
external factors, the current China-Thailand relationship is far more grounded in realism and cooperation, and remains steadfast in the face
of political ups and downs
As a result, and with key infra projects bridging physical distances, the people of both countries and the broader region have every reason
to be hopeful that the next 50 years of ties can bring them even closer together with prosperous results.
